Statoil Took Write-down on US Onshore Oil and Gas Operations, Says CEO

OSLO—Statoil ASA's Chief Executive Helge Lund said Friday the company had taken a write down on its U.S. onshore oil and gas operations as a lack of pipeline capacity is hindering it from selling its output to regions where it can fetch a higher price.

The state-owned Norwegian oil and gas major earlier said it had booked a total impairment of 4.3 billion Norwegian kroner ($694 million) on its assets in the Bakken, Marcellus and...